When Dash and Monero came into existence, their main focus has been security and privacy. But who’d won in a Dash vs Monero contest?
Dash and Monero have unique qualities for the market compared to other top rated cryptocurrencies like Bitcoin. Regarding market capitalization and adoption, both tokens are small when compared to Bitcoin or Ethereum. Generally, Dash and Monero are similar to Bitcoin – that means they are each a unique digital currency – but with a focus on privacy.
Dash differs from Bitcoin in a number of ways. It comes with a point of sale, which is an advancement when compared to Bitcoin. With Dash, the time taken to complete a transaction is quick. Unlike Bitcoin, the timeframe for authenticating payments is very slow.
So how does Dash vs. Monero fair against each other?
Dash has a hierarchy of nodes due to the Masternode network. The Masternodes is used to enable PrivateSend and InstaSend. The nodes are unequal and making it traceable.
On the other hand, Monero is untraceable courtesy of three main technologies. The ring signature maintains the privacy of an address. Additionally, the confidentiality of the amount transacted is enabled by the Ring CT technology. Lastly, the Stealth address capability means that the receiver’s address remains anonymous.
When it comes to Dash vs. Monero, one might expect the privacy levels to be equal. However, we have some differences. Dash does not guarantee privacy by default since the feature is optional. Users can to use the PrivateSend option or not. The PrivateSend feature is an updated version of CoinJoin. The technology bars third parties from tracking any transaction.
Developers of Monero made it private by default. The digital asset makes use of a cryptographically secure system to enhance privacy. Additionally, Monero’s fungile qualities strengthen privacy.
Dash is a fork of Bitcoin. In simple terms, Dash developers created the token from the Bitcoin code but tweaked it to promote privacy. The crypto is just like Bitcoin but with unique variations in confidentiality.
On the other hand, Monero was not forked from Bitcoin. It is a fork of the CryptoNote protocol and Bytecoin.
It is important to note that both tokens are limited in supply compared to established cryptocurrencies. However, on the Dash vs. Monero, the former emerges on top. Dash core developers placed a maximum supply at 18.9 million. Additionally, after every two and a half minutes, a fresh block of Dash is generated.
For Monero, the maximum supply has been capped at 18.4 million. In the event the supply ends, we will still have production of Monero at the rate of 0.3 per minute. Furthermore, new blocks of Monero are generated between one to minutes. Therefore, Monero is inflationable – while Dash doesn’t have this issue yet.
Monero seems to lose the battle of Dash vs. Monero on the storage aspect. The token is not compatible with any hardware wallet. Holders of Monero usually store the asset in cold wallets which are considered to be more secure. Monero also comes with a paper wallet storage and a web wallet.
For Dash Vs. Monero, there is a lot to say. The two tokens are trying to stand out from the pack with a focus on security and privacy. The two tokens come with significant features for crypto lovers. However, they still have a long way to go before achieving mass adoption in the market. Dash needs to clarify on the ownership of masternodes by the development team. On the other hand, Monero’s limited wallet compatibility is a significant concern. To be sure you’ve done the right pick, you need to check the latest crypto news about each of the cryptocurrecies and see which one performs better.
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